INDEPENDENT AUDITOR’S REPORT

TO THE OWNERS AND MANAGEMENT OF KOMOS GROUP

We have audited the accompanying combined financial statements of entities listed in Note 1 to the combined financial statements (hereinafter jointly referred to as “KOMOS GROUP” or “the Group”), which comprise the combined statement of financial position as at 31 December 2013, and combined statement of comprehensive income, combined statement of cash flows and combined statement of changes in equity for the year then ended, and a summary of significant accounting policies and other explanatory notes. The combined financial statements have been prepared by management of KOMOS GROUP in accordance with accounting principles of financial reporting based on International Financial Reporting Standards (IFRS), described in Note 2 to these combined financial statements.

MANAGEMENT’S RESPONSIBILITY FOR THE COMBINED FINANCIAL STATEMENTS

Management is responsible for the preparation and fair presentation of these combined financial statements in accordance with the accounting principles of financial reporting based on International Financial Reporting Standards (IFRS), described in Note 2 to these combined financial statements, and for such internal control as management determines necessary to enable the preparation of combined financial statements that are free from material misstatement, whether due to fraud or error.

AUDITOR’S RESPONSIBILITY

Our responsibility is to express an opinion on these combined financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the combined financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the combined financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the combined financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Group’s preparation and fair presentation of the combined financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the combined financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified audit opinion.

BASIS FOR QUALIFIED OPINION

1. The accompanying combined financial statements do not disclose the names of ultimate controlling parties. In our opinion, disclosure of this information is required by IAS 24 “Related Party Disclosures”.
2. Some subsidiaries are not included in these combined financial statements. The information about these subsidiaries, their financial indicators and potential impact on these combined financial statements are disclosed in Note 8.

QUALIFIED OPINION

In our opinion, except for the effects of the matter described in the Basis for Qualified Opinion paragraph, the combined financial statements of KOMOS GROUP as at 31 December 2013 have been prepared in all material respects in accordance with the accounting principles of financial reporting based on IFRS, described in Note 2 to these combined financial statements.

BASIS OF ACCOUNTING

Without modifying our opinion, we draw attention to the fact that the accompanying combined financial statements have been prepared in accordance with the accounting principles of financial reporting based on IFRS, described in Note 2 which are not in accordance with International Financial Reporting Standards in the part of combination only.

BDO ZAO
12 May 2014